Soletanche Freyssinet expanding in Turkey and Canada
16 December 2011 - Acquisitions - Canada
Soletanche Freyssinet, a subsidiary of VINCI Construction and a world leader in the areas of soil technology and structures, has just agreed to take a majority stake in both Zetas, in Turkey, and Bermingham, in Canada. These targeted acquisitions in its specialised fields (foundations and soil technology), will serve to consolidate the Group's development outside France, and open up new market opportunities in Turkey, Central Asia and Canada, markets with huge potential.
Zetas, founded in 1988 and based in Istanbul, is a company that is well-known in the market. With an annual turnover of 45 million euros, it offers a range of expertise in the geotechnical and foundations fields. Zetas is also present in the Middle East (United Arab Emirates, Saudi Arabia, Lebanon, Qatar), as well as in Central Asia (Azerbaijan, Turkmenistan, Kazakhstan).
Bermingham (turnover: some 35 million euros), founded in 1897 and based in Toronto, is the oldest Canadian company specialising in foundations and maritime works. It is also active in the mining, transport and energy sectors, producing specialised equipment and supplying engineering services. Operating in more than 40 countries, where it works on major infrastructure projects, Bermingham will complete Soletanche Freyssinet's geographical coverage of Canada.
By allying itself with companies that are strongly-rooted in expanding markets and have a marked international focus, Soletanche Freyssinet, already present in about a hundred countries, is stepping up its international presence and reinforcing its position in the foundations sector.
VINCI is a global player in concessions and contracting, employing more than 222,000 peoplein nearly 120 countries. We design, finance, build and operate infrastructure and facilities that help improve daily life and mobility for all. Because we believe in all-round performance, above and beyond economic and financial results, we are committed to operating in an environmentally and socially responsible manner. And because our projects are in the public interest, we consider that reaching out to all our stakeholders and engaging in dialogue with them is essential in the conduct of our business activities. VINCI’s goal is to create long-term value for its customers, shareholders, employees, and partners and for society at large.